The recording and analysis of *costs for management information purposes. Cost accounting often focuses on the costing of *units of inventory, for which there are several methodologies, including *absorption costing, *activity based costing, and *backflush costing. Cost accounting is sometimes used to establish a product’s selling price through *cost-plus pricing.

Cost Accounting — A type of accounting process that aims to capture a company s costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Cost accounting will first measure and… … Investment dictionary

cost accounting — The techniques used in collecting, processing, and presenting financial and quantitative data within an organization to ascertain the cost of the cost centres, the cost units, and the various operations. Cost accounting is now regarded as a… … Accounting dictionary

cost accounting — The techniques used in collecting, processing, and presenting financial and quantitative data within an organization to ascertain the cost of the cost centres, the cost units, and the various operations. Cost accounting is now regarded as a… … Big dictionary of business and management

cost accounting — noun keeping account of the costs of items in production • Hypernyms: ↑accountancy, ↑accounting • Hyponyms: ↑costing * * * noun [noncount] business : a system of recording and studying how much money a company spends * * * ˈcost accounting f46 [ … Useful english dictionary

cost accounting — N UNCOUNT Cost accounting is the recording and analysis of all the various costs of running a business … English dictionary